Palo Alto Networks Shares Climb on NATO Cybersecurity Partnership, Analyst Upgrade

Palo Alto Networks (PANW) shares rose 4.1% on May 29, 2026, after the company announced a strategic cybersecurity partnership with NATO and received a price target increase from Benchmark. The stock later settled at $257.73, up 3.7%. The non-commercial partnership, which also includes Microsoft and ESET, was disclosed May 27 and focuses on sharing threat intelligence and coordinating cyber defense. Benchmark maintained a "Buy" rating and raised its price target, citing strong cybersecurity demand driven by AI adoption. The sector also gained support after a White House directive ordered federal agencies to use AI-enhanced detection against cyber threats. The advance followed a 2.9% decline a day earlier, when peer Zscaler’s earnings sparked margin concerns across the industry. Palo Alto Networks has risen 43.7% year-to-date and trades near its 52-week high of $260.58.